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When the price of a good rises from Rs. 8 per unit to Rs. 10 per unit, the producer supplies 40 more units. Price elasticity of supply is 2. What is the quantity supplied before the price change? Calculate. |
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Answer» When the price of a good rises from Rs. 8 per unit to Rs. 10 per unit, the producer supplies 40 more units. Price elasticity of supply is 2. What is the quantity supplied before the price change? Calculate. |
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